12. An item was sold at a loss of 20%. Had it been sold for Rs. 50 more then, the profit would have been 5%. What is the cost price of the item?

Question

asked Oct 23, 2022 81.5k views

1 Answer

Ankit Khedekar · Answer 1 · 2022-10-29T15:16:53+0000

Given:

An item was sold at a loss of 20%.

If the item is sol for Rs. 50 more then, the profit would have been 5%.

To find:

The cost price of the item.

Solution:

Let x be the cost price of the item.

The item was sold at a loss of 20%. Then selling selling price is:

S.P.=x-(20)/(100)x

S.P.=x-0.2x

S.P.=0.8x

If a the item is sold for 5% profit, then the selling price is:

S.P.=x+(5)/(100)x

S.P.=x+0.05x

S.P.=1.05x

It is given that, if the item is sol for Rs. 50 more then, the profit would have been 5%. So,

0.8x+50=1.05x

50=1.05x-0.8x

50=0.25x

Divide both sides by 0.25.

(50)/(0.25)=x

200=x

Therefore, the cost price of the item is Rs. 200.